BELOW SUPERNAV drop zone ⇩

Report: Historic race wealth gap remains wide

MAIN AREA TOP drop zone ⇩

MAIN AREA TOP drop zone ⇩

Mortgage Calculator

This calculator helps you estimate your monthly mortgage payment. It adds up the loan payment (principal + interest), property tax, and insurance. The loan payment is spread out over the years of your loan term.

This is the total amount you're borrowing from the bank.
This is the yearly interest rate on your loan.
This is how long you'll take to repay the loan.
This is the yearly tax you pay on your property.
This is the yearly cost to insure your home.

Monthly Payment Breakdown

Principal and Interest: $

Property Tax: $

Homeowners Insurance: $

Total Estimated Monthly Payment: $

maylen

https://digital-stage.newsnationnow.com/

AUTO TEST CUSTOM HTML 20241114185800

AUTO TEST CUSTOM HTML 20241115200405

AUTO TEST CUSTOM HTML 20241118165728

AUTO TEST CUSTOM HTML 20241118184948

(NewsNation) — The wealth gap between white and Black Americans is more like a gulf, according to new data from the National Bureau of Economic Research.

Researchers examined Census data and early state tax records over a span of 160 years dating back to 1860. The study found that in 2019, the white-to-Black per capita wealth ratio was 6 to 1, equal to Black Americans holding 17 cents on average for every white dollar of wealth, The Hill reported.

In addition, Black Americans earned an average of 50 cents for every dollar white Americans earn. The gap in 2020 was nearly identical to the gap in 1950.

There’s a chance that you haven’t heard about this story. No right-leaning outlets have reported on the topic, according to NewsNation partner Ground News’ Blindspot report. Fifty percent of outlets that reported on this issue were left-leaning and the other 50% were outlets aligned in the center of the political spectrum.

Researchers created a model excluding all other obstacles Black Americans faced with regard to personal wealth gain, The Hill reported. Their goal was to determine if equal wealth accumulation were possible following emancipation in the absence of known barriers. The results showed a slower path to wealth equality throughout the 150 years since the end of slavery.

Until now, understanding of racial wealth differences relied on limited “snapshots” that focused
on more specific places and times or examined only recent decades when the gap’s change was unremarkable, according to the report.

Wealth concentration increased dramatically during the COVID-19 pandemic and reached its highest levels since World War II, according to the report. The top 0.01% of households now own 36.1% of private wealth, it stated.

“Given that there are so few Black households at the top of the wealth distribution, faster growth in wealth at the top will lead to further increases in racial wealth inequality,” researchers wrote.

This story is part of NewsNation’s new “Blindspot” initiative in partnership with Ground News to provide readers with contextual, unbiased news they may not find covered by every media outlet.

The Whole Story

Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed

Site Settings Survey

 

MAIN AREA MIDDLE drop zone ⇩

Trending on NewsNation

AUTO TEST CUSTOM HTML 20241119133138

MAIN AREA BOTTOM drop zone ⇩

tt

KC Chiefs parade shooting: 1 dead, 21 shot including 9 kids | Morning in America

Witness of Chiefs parade shooting describes suspect | Banfield

Kansas City Chiefs parade shooting: Mom of 2 dead, over 20 shot | Banfield

WWE star Ashley Massaro 'threatened' by board to keep quiet about alleged rape: Friend | Banfield

Friend of WWE star: Ashley Massaro 'spent hours' sobbing after alleged rape | Banfield

Sunny

la

66°F Sunny Feels like 66°
Wind
1 mph S
Humidity
26%
Sunrise
Sunset

Tonight

A few passing clouds. Low 47F. Winds light and variable.
47°F A few passing clouds. Low 47F. Winds light and variable.
Wind
2 mph N
Precip
9%
Sunset
Moon Phase
Waning Gibbous